2. Snapshot of Bristol Introduction (Town to provide brief history of Bristol) Existing Land Use Bristol has a diverse yet predominantly residential land use pattern. Nearly 75% of Bristol’s land is used for residential purposes, among which more than 50% of the total is classified as medium density residential with lot sizes ranging from a quarter to 2 acres; almost 15% is occupied by low density residential with lots larger than 2 acres; and 9.4% for high density residential with lots smaller than a quarter acre. More than 10% of Bristol’s land is used for open space, recreation, and other institutional uses. An additional 4.8% is considered as natural undisturbed land, with another 0.4% classified as open undeveloped land. Commercial and industrial uses account for 2.2% and 3.8% of Bristol respectively, while agricultural land taking up another 3% of Bristol (see Figure 2.1). Figure 2.1: Existing Land Use in Bristol, RI Agriculture 14.7% 11.0% 4.8% 0.0% 3.0% 0.4% 2.2% 3.8% 9.4% 50.7% Open Undeveloped Land Commercial Industrial/Transportation/Mining Higher Density Residential Medium Density Residential Low Density Residential Urban Open/Institutional/Recreation Natural Land/Undisturbed Vegetation Water Source: Town of Bristol GIS data Draft September 24, 2014 CHAPTER 2: SNAPSHOT OF BRISTOL 1 Demographic Profile and Projections Several demographic trends, such as population growth, age distribution, household characteristics, etc., will influence the need for various types of housing in Bristol. Population Growth According to the US Census, Bristol’s total population was 22,954 in 2010, representing a 2.1% percent increase from 22,469 in year 2000 and a 6.1% increase from 21,625 in 1990. Yet the population growth rate in Bristol will likely to slow down as the 2012 ACS 5-Year estimates a total population of 22,792 in the Town of Bristol. In addition, population projection data provided by the Rhode Island Statewide Planning Program indicates that Bristol’s population will keep growing but at a much slower rate compared to the past two decades (see Figure 2.2). Bristol is projected to have a total population of 23,771 by Year 2040, representing a 3.6% growth rate over the next two and half decades. Figure 2.2: Historic and Projected Population Growth in Bristol, RI 24,000 23,647 23,375 23,500 22,954 22,872 23,018 23,000 22,469 22,500 22,000 23,787 23,771 21,625 21,500 21,000 20,500 20,000 1990 2000 2010 2015 2020 2025 2030 2035 2040 Source: US Census, Rhode Island Statewide Planning Program Population Projection Population Age Distribution Figure 2.3 shows the change of age distribution of Bristol’s population from 2000 to 2010. Bristol experienced a 18.6% decrease in the number of children under 14 years old from 2000 to 2010, yet the number of teenage and young adults between 15 to 24 years old increased, particularly those between 20 to 24 years old which increased by 60.4%. In addition, the number of adults age 25 to 44 who are either entering the workforce or forming and raising their own families in Bristol declined significantly by 23.6% or 1,431 persons from 2000 to 2010, yet the number of people age between 45 and 54 increased by 15.3%. Similar to national trends, Bristol also experienced an increase in its elderly population. Overall the population age 55 to 64 increased by 43.4% between 2000 and 2010. Although population in 2 CHAPTER 2: SNAPSHOT OF BRISTOL Draft September 24, 2014 the 65-84 age cohorts decreased slightly, Bristol has seen a growing population of age 85 and over during 2000 to 2010 (see Figure 2.3). However, as the Baby Boom generation continues to age, future trends are likely to show an increase in the number of people older than 65 years of age. Figure 2.3: Distribution of Age, Bristol, RI 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2000 2010 Source: US Census 2000 and 2010 Household Characteristics From 2000 to 2010, Bristol’s total household grew by 197 households or 2.3%. Other indicators that experienced growth included nonfamily households, increased by 886 or 15.4%; nonfamily households with householder living alone, increased by 297 or 11.9%; and nonfamily single person household with householder age 65 and over, increased by 113 or 10.3%. There are 290 fewer family households in Bristol from 2000 to 2010 or a 5.4% decrease. In addition, both the average household size and the average family size declined slightly, indicating an overall smaller household size of Bristol’s households (see Table 2.1), which also mirrors national trends. Table 2.1: Household Characteristics in Bristol, RI Percent Change 2000 2010 2000-2010 Total Households 8,314 8,511 2.3% Family Households 5,650 5,361 -5.4% 4,554 4,275 -6.5% 1,812 1,942 6.7% Married Couple Family with own Children <18 Draft September 24, 2014 CHAPTER 2: SNAPSHOT OF BRISTOL 3 Percent Change 2000 2010 2000-2010 Female Householder, no Husband 837 802 -4.4% 431 387 -11.4% 2,664 3,150 15.4% 2,189 2,486 11.9% Householder 65+ 988 1,101 10.3% Average Household Size 2.45 2.35 -4.3% Average Family Size 2.99 2.92 -2.4% with own Children <18 Nonfamily Households Householder Living Alone Source: US Census 2000 and 2010 Income Distribution The median household income in 2012 was $60,934, representing an increase of 39.5% from the 2000 median income $58,688 (adjusted to inflation). When compared to the county and state, Bristol’s median household income in 2012 was $4,832 higher than the state but $10,152 lower than Bristol County (see Figure 2.4). Between 2000 and 2012, there were general decreases in the numbers of households in several income categories ranging from less than $10,000 to less than $99,999, except for a small increase in the number of households earning between $10,000 and $14,999. However the number of households earning more than $100,000 increased significantly from 2000 to 2012 (see Figure 2.5). Figure 2.4: Median Household Income in 2000 and 2012 (adjusted for inflation) $80,000 $70,000 $60,000 $71,086 $68,156 $60,934 $58,688 $56,540$56,102 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Town of Bristol 2000 Bristol County 2012 Rhode Island Source: US Census 2000 and American Community Survey 2008-2012 5-Year Estimates 4 CHAPTER 2: SNAPSHOT OF BRISTOL Draft September 24, 2014 Figure 2.5: Households Income Distribution, Bristol, RI $200,000 or more $150,000 to $199,999 $100,000 to $149,999 $75,000 to $99,999 $50,000 to $74,999 $35,000 to $49,999 $25,000 to $34,999 $15,000 to $24,999 $10,000 to $14,999 Less than $10,000 0 500 1000 2012 1500 2000 2000 Source: US Census 2000 and American Community Survey 2008-2012 5-Year Estimates Despite the overall increasing household wealth, there still remains a population living in Bristol with very limited financial means. Of the 8,921 households in Bristol in 2012, 678 or 7.6% had income of less than $10,000 and 1,418 or 15.9% of all the households had incomes between $10,000 and $24,999, representing extremely low-income levels at or below 30% of area median income. An additional 767 households had income within or around what public agencies would define as very low income of 50% of area median income based on 2012 levels (see Table 2.2). The total number of households within these lower income categories was 2,863 or 32.1% of all Bristol households, a significant amount that will affect the general housing needs. Table 2.2: Percentage of Households Income Distribution, Bristol, RI 2000 2012 Total Number of Households 8311 Less than $10,000 797 9.60% 678 7.6% $10,000 to $14,999 597 7.2% 642 7.2% $15,000 to $24,999 946 11.4% 776 8.7% $25,000 to $34,999 944 11.4% 767 8.6% $35,000 to $49,999 1,329 16% 955 10.7% 8,921 Draft September 24, 2014 CHAPTER 2: SNAPSHOT OF BRISTOL 5 2000 2012 $50,000 to $74,999 1,644 19.8% 1,570 17.6% $75,000 to $99,999 1,012 12.2% 830 9.3% $100,000 to $149,999 722 8.7% 1,606 18.0% $150,000 to $199,999 205 2.5% 633 7.1% $200,000 or more 115 1.4% 464 5.2% Source: US Census 2000 and American Community Survey 2008-2012 5-Year Estimates Housing Profile Age and Condition of Housing Stock Information on the age of the Town’s housing stock is presented in Figure 2.6. According to the 2012 ACS 5-Year Estimates, the Town of Bristol has a total of 9,625 housing units. The Town’s housing stock is relatively aged with approximately 34% or 3,259 of all the housing units in Bristol built before 1939. Another 24.1% of the housing stock was constructed during the past 30 years, among which only 7.2% or 685 units were added during the past 15 years or so. Figure 2.6: Age of Housing Stock in Bristol, RI 40.0% 35.0% 33.9% 30.0% 25.0% 20.0% 12.2% 15.0% 10.0% 10.6% 12.6% 11.4% 6.8% 5.5% 7.0% 5.0% 0.2% 0.0% Year Built 1939 or earlier 1940-1949 1950-1959 1960-1969 1970-1979 1980-1989 1990-1999 2000-2009 2010 or later Number 3,259 650 1,175 1,016 1,213 1,101 526 670 15 Percent 33.9% 6.8% 12.2% 10.6% 12.6% 11.4% 5.5% 7.0% 0.2% Source: American Community Survey 2008-2012 5-Year Estimates 6 CHAPTER 2: SNAPSHOT OF BRISTOL Draft September 24, 2014 Housing Stock by Type Table 2.3 compared the change in the number of different types of housing units in Bristol from 2000 to 2012. Single family detached housing comprises the majority, 62.1%, of the Town’s housing inventory, while the second largest share is multifamily housing with two to four units per structure. From 2000 to 2012, Bristol’s housing stock grew by 10.6%. Multi-family housing with three and more unit per structures, particularly ten or more unit structures, appear to be the fastest growing segment. Single family detached units also increased by 13% or 687 units. In contrast, single family attached units and two family housing decreased by nearly 29% and 9% respectively due to the significant increases in other housing types. Table 2.3: Types of Housing Units in Bristol, RI, 2000 and 2012 ACS 5-Year Estimates 2008-2012 Est Type of Structure 2000 Units Number Percent % Change 2000-2012 Single-family (detached) 5,293 5,980 62.1% 13.0% Single-family (attached) 361 257 2.7% -28.8% Two-family Units 1,175 1,074 11.2% -8.6% Three or four units 987 1,138 11.8% 15.3% Five to nine units 476 597 6.2% 25.4% Ten of more units 408 579 6.0% 41.9% Mobile Home 5 0 0.0% -100.0% Total Units 8,705 9,625 100.0% 10.6% Source: American Community Survey 2008-2012 5-Year Estimates Housing Occupancy and Ownership Housing vacancy rate indicates the availability of housing units in a community. In general a vacancy rate of 5.0% is considered ideal because it allows the population to move more freely in the marketplace. A vacancy rate below 5.0% indicates that there is a demand for additional housing. A vacancy rate greater than 5.0% may indicate that a community has a problem with underutilization, has an overabundance of rundown and disinvested properties, or lacks an effective redevelopment/reinvestment policy. High vacancy rates can also be the result of economic weakness at state, regional or national level. The overall occupancy rate of housing units in Bristol has declined by 2.8% since 2000, indicating an increasing number of vacant units in the town. Within the occupied housing units, the percentage of owner-occupied units has decreased slightly from 63.1% in 2000 to 62.7% in 2012 while that of the renter-occupied units decreased by 2.6% from 32.6% to 30%. Draft September 24, 2014 CHAPTER 2: SNAPSHOT OF BRISTOL 7 Table 2.4: Housing Occupancy in Bristol, RI, 2000 and 2012 ACS 5-Year Estimates 2000 Category Occupied Units Number Percentage of Total 2008-2012 Number Percentage of Total 8,314 95.5% 8,921 92.7% Owner-occupied 5,490 63.1% 6,036 62.7% Renter-occupied 2,842 32.6% 2,885 30.0% Vacant Units 391 4.5% 704 7.3% Seasonal, Recreational or Occasional 130 1.5% 268 2.8% Total Units 8,705 100% 9,625 100% Source: American Community Survey 2008-2012 5-Year Estimates Housing Cost (ownership and rental) Cost of Homeownership Units According to The Warren Group, the median sales price for single family houses sold in Bristol during 2012 was $252,500 or 51.3 % increase compared to $166,900 in 2000, and increased to $280,000 in 2013. In addition, the median sale price for condominiums sold in Bristol in 2012 was $253,750 or a 58.1% increase from $160,450 in 2000. Similar to single family housing, the median sales price for condo increased significantly to $287,450 in 2013. Overall in comparing Bristol to the county and state averages in 2012, Bristol’s single family housing price is slightly lower than the Bristol County average but much higher than the state average (see Figure 2.7). However Bristol is almost consistently having a higher median sales price for condo units compared to the county and state average (see Figure 2.8). 8 CHAPTER 2: SNAPSHOT OF BRISTOL Draft September 24, 2014 Figure 2.7: Median Sales Price for Single Family, Bristol, County and State $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Bristol Bristol County Rhode Island Source: The Warren Group Town Stats Figure 2.8: Median Sales Price for Condo, Bristol, County and State $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Bristol Bristol County Rhode Island Source: The Warren Group Town Stats Cost of Rental Housing In 2000, the median gross rent in Bristol was $572 per month which was slightly less than Bristol County’s $578 but more than the state median gross rent of $553. In 2012, median gross rent in Bristol was $857 per month, which was lower than Bristol County at $914 and the state at $908. In comparison, Bristol experienced a gross rent growth rate of 49.8% from 2000 to 2012, which was lower than the county rate of 58.1% and the state rate of 64.2% (see Figure 2.9). Draft September 24, 2014 CHAPTER 2: SNAPSHOT OF BRISTOL 9 Figure 2.9: Median Gross Rent, Bristol, County and State 1000 914 908 857 900 800 700 600 572 578 553 500 2000 400 2012 300 200 100 0 Bristol Bristol County Rhode Island Source: US Census 2000 and American Community Survey 2008-2012 5-Year Estimates Housing Affordability Indices The definition of affordability considers both the price of the housing unit and the income of the household living in it. It should be noted that the term “affordable housing” is relative, since it depends on the income of the household. Affordable housing is not the same thing as subsidized housing for persons of low and/or moderate income, although subsidized housing is one type of affordable housing. The U.S. Department of Housing and Urban Development (HUD) defines affordability as a household spending no more than 30% of its annual income on housing. Families who pay more than 30% of their income for housing are considered to be cost burdened and may have difficulty affording necessities such as food, clothing, transportation and medical care. This federal definition of affordable housing has become the generally accepted standard. A guideline used by bands when evaluating home mortgage applications is that monthly payments should not exceed 30-33% of household income. The 2012 ACS estimated that approximately 38.2% of Bristol homeowners spent 30% or more of their household income on housing costs, which was twice as much as that of year 2000. Similarly, 54.2% of all renters spent more than 30% of their household income on housing costs in 2012, which increased by 20% since 2000. In addition, 25.4% of homeowners spent between 20% - 30% of household income on housing costs in 2012 compared to 18.7% for renters. Another 36.4% of homeowners spent less than 20% compared to 27.1% for renters. These numbers indicate high and increasing housing costs burdens, especially when compared to 2000 housing cost data. See Table 2.5 below for more details. 10 CHAPTER 2: SNAPSHOT OF BRISTOL Draft September 24, 2014 Table 2.5: Housing Cost as a Percentage of Household Income, Bristol, RI Homeowner Renter 2000 % 2012 % 2000 % 2012 % Less than 20 percent 2,157 46.1% 2,180 36.4% 993 35.1% 734 27.1% 20 to 29 percent 1,133 24.3% 1,525 25.4% 590 20.8% 508 18.7% 30 percent or more 1,358 19.0% 2,290 38.2% 965 34.2% 1,467 54.2% Source: US Census 2000 and American Community Survey 2008-2012 5-Year Estimates Note: some percentages do not total 100% due to “not computed” data in US Census. Draft September 24, 2014 CHAPTER 2: SNAPSHOT OF BRISTOL 11 Economic and Labor Profile Labor Force and Employment According to the ACS 2012 5-Year Estimates, there were a total of 19,605 people in the Town of Bristol aged 16 years and over, among whom 12,372 or 63.1% were in labor force. About 11,345 of the 12,275 people who were in civilian labor force were employed, representing a 60.6% employment rate among all people age 16 and over in 2012. The 2000 labor force data indicates that Bristol had a smaller population 16 years and over, yet the percentage of this population within the labor force was higher, at about 63.6% in 2000. In addition, the employment rate among civilian labor force was 95.3% in 2000, which is higher than that of 2012 (see Table 2.6). Table 2.6: Labor Force and Employment, Bristol, RI 2000 2012 Number Percent Number Percent 18,540 100% 19,605 100% 11,785 63.6% 12,372 63.1% 11,777 63.5% 12,275 62.6% Employed 11,229 60.6% 11,345 57.9% Unemployed 548 3% 930 4.7% 6,755 36.4% 7,233 36.9% Population 16 years and over In labor force Civilian labor force Not in labor force Source: US Census 2000 and American Community Survey 2008-2012 5-Year Estimates In terms of occupation, in 2012 about 40% of all workers in Bristol were in management, business, science and arts occupations; 24.5% were in sales and office occupations while 19.1% were in service occupations. There were approximately 1,007 workers or 9% of the total in occupations such as production, transportation, and material moving, and another 864 workers (7.6%) occupations such as natural resources, construction and maintenance (see Figure 2.10). 12 CHAPTER 2: SNAPSHOT OF BRISTOL Draft September 24, 2014 Figure 2.10: Occupation of Bristol Workers in 2012 1,007 864 8.9% 7.6% Management, business, science, and arts occupations 4,526 39.9% Service occupations Sales and office occupations 2,782 24.5% Natural resources, construction, and maintenance occupations Production, transportation, and material moving occupations 2,166 19.1% Source: American Community Survey 2008-2012 5-Year Estimates When compared to 2000 data, it is clear that from 2000 to 2012 there were fewer workers in occupations such as production, construction and sales, etc. Instead the number of workers in occupations such as service, management, business, etc. increased significantly in Bristol, as manufacturing declined and service-related industries grew across the Town and region (see Figure 2.11). Figure 2.11: Change of Occupation in Bristol Production, transportation, and material moving occupations Natural resources, construction, and maintenance occupations 2012 Sales and office occupations 2000 Service occupations Management, business, science, and arts occupations - 1,000 2,000 3,000 4,000 5,000 Source: US Census 2000 and American Community Survey 2008-2012 5-Year Estimates Draft September 24, 2014 CHAPTER 2: SNAPSHOT OF BRISTOL 13 The 2012 ACS 5-Year Estimates data regarding educational attainment for Bristol’s workforce further reveals that 84% of adults in Bristol over age 25 graduated from high school, which represents a lower percentage compared to the county and state average. In addition, 32.9% of people over 25 years old in Bristol had a bachelor’s degree or higher, which is 2.1% higher than the state level but 9.3% lower than the county level (see Table 2.7). Table 2.7: Education Attainment of Population 25+ in Bristol Bristol Bristol County RI State High School Graduate or Higher 84.0% 88.6% 84.8% Bachelor's Degree or Higher 32.9% 42.2% 30.8% Source: American Community Survey 2008-2012 5-Year Estimates Key Industries in Bristol Based on information from the 2012 American Community Survey 5-Year Estimates and 2000 US Census, the highest-employing industries in Bristol are as follows and are shown in Figure 2.12 and Table 2.8: Educational services and health care and social assistance Retail trade Arts, entertainment, and recreation, and accommodation and food services Manufacturing Except manufacturing, employment in most major industries has grown more than others over the past decade. Fewer jobs are available today in manufacturing, construction, and wholesale. Most notably, manufacturing commanded close to 1,700 jobs in 2000 but only 1,050 jobs by 2012 – a 62% decrease. There were also decreases in employment in professional, management, and information industries. Jobs in these types of industries usually require higher education levels and more skill training. 14 CHAPTER 2: SNAPSHOT OF BRISTOL Draft September 24, 2014 Figure 2.12: Growth in Employment by Industry in Bristol, 2000-2012 Educational services, and health care and social assistance 3,493 1,411 Retail trade Arts, entertainment, and recreation, and accommodation and food services 1,124 1,050 Manufacturing Professional, scientific, and management, and administrative and waste management services 805 Construction 766 Finance and insurance, and real estate and rental and leasing 641 Public administration 638 489 Other services, except public administration 393 Transportation and warehousing, and utilities Wholesale trade 233 Information 219 83 Agriculture, forestry, fishing and hunting, and mining 0 1000 2012 2000 3000 4000 2000 Source: US Census 2000 and American Community Survey 2008-2012 5-Year Estimates Draft September 24, 2014 CHAPTER 2: SNAPSHOT OF BRISTOL 15 Table 2.8: Employment by Industry in Bristol, 2000-2012 2000 2012 Number Percent Number Percent 11229 100% 11,345 100% Agriculture, forestry, fishing and hunting, and mining 54 0.5% 83 0.7% Construction 844 7.5% 766 6.8% Manufacturing 1,693 15.1% 1,050 9.3% Wholesale trade 325 2.9% 233 2.1% Retail trade 1,286 11.5% 1,411 12.4% Transportation and warehousing, and utilities 307 2.7% 393 3.5% Information 243 2.2% 219 1.9% Finance and insurance, and real estate and rental and leasing 600 5.3% 641 5.7% 943 8.4% 805 7.1% 3,205 28.5% 3,493 30.8% 901 8.0% 1,124 9.9% Other services, except public administration 398 3.5% 489 4.3% Public administration 430 3.8% 638 5.6% Civilian employed population 16 years and over Professional, scientific, and management, and administrative and waste management services Educational services, and health care and social assistance Arts, entertainment, and recreation, and accommodation and food services Source: US Census 2000 and American Community Survey 2008-2012 5-Year Estimates 16 CHAPTER 2: SNAPSHOT OF BRISTOL Draft September 24, 2014
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